Ecclestone insists F1 is 'not for sale' following News Corp rumour

Bernie Ecclestone has dismissed reports that Formula 1 is the subject of a potential takeover bid by Rupert Murdoch's News Corp.

Speculation had suggested that the company was in the early stages of talks with Carlos Slim, the Mexican telecoms billionaire, about forming a consortium to bid for control of international grand prix racing.

But Ecclestone told the Daily Telegraph that the story was 'rubbish' and insisted the sport was 'not for sale'.

The 80-year-old Briton essentially runs Formula One on behalf of its current owners CVC Capital Partners, a private equity firm which acquired the motorsport for $2.5bn six years ago.

Ecclestone insisted CVC were not 'looking for the exit', but the fact that the story originated from Sky News - itself part-owned by News Corp - suggests that there is some credibility to the conjecture.

Whether the sudden interest in Formula 1 turns into a bid for the sport as a whole or perhaps an attempt to secure the lucrative broadcasting rights remains to be seen.